The following table presents information for Golden Fleece Financial.

Long$-$term debt outstanding $ $410,000$

Current yield to maturity on debt $9\mathrm{.}00\%$

Number of shares of common stock $15,500$

Price per share $ $61$

Book value per share $ $36$

Expected rate of return on stock $18\mathrm{.}00\%$

Calculate the company cost of capital.

Note: Ignore taxes. Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places.